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According to Elicker, Stamford-based owns the building and has a ground lease through Yale University.
In addition to acquiring the property, GLPI also signed a 99-year ground lease with 815 Entertainment.
I think a lot of those assets that we've seen have a fair amount of existing leverage and us as a ground lease solution in isolation doesn't solve their problem.
Our recently announced Rockford ground lease is a prime example of what is possible in this environment.
We use the 5.8% inflation adjusted yield as the starting point for this metric and simply subtract Safehold’s 82% ownership of Caret using its latest $2 billion valuation from the current portfolio ground lease basis.